BNP Paribas has appointed Sandro Pierri (pictured) as CEO of BNP Paribas Asset Management with effect from 1 July, replacing Frédéric Janbon.
Pierri is currently deputy CEO of BNP Paribas AM and head of its global client group. Based in Paris, he will report to Renaud Dumora, future deputy COO of BNP Paribas, in charge of the investment and protection services division of the group, which includes BNP Paribas AM, alongside BNP Paribas Cardif, BNP Paribas Wealth Management and BNP Paribas Real Estate.
He succeeds Janbon, who will become special adviser to Dumora to smooth the transition, before leaving the group at the end of the year to pursue other professional opportunities.
Under his leadership, BNP Paribas Asset Management has become a global leader in sustainable investment."
Jean-Laurent Bonnafé, CEO of BNP Paribas group, said: "I would like to sincerely thank Frédéric Janbon for his overall contribution to the BNP Paribas Group, in which he spent most of his professional career.
"During his tenure at the head of fixed income and up until 2014, he successfully built and ran a powerful and recognized fixed income and debt capital market franchise.
"Since 2015, he has refocused and transformed our asset management activities into a fully integrated platform delivering solid investment performance to our clients. Under his leadership, BNP Paribas Asset Management has become a global leader in sustainable investment."
Pierri has more than 30 years' experience in the asset management industry, and joined BNP Paribas Asset Management in 2017.
Dumora added: "The appointment of Sandro Pierri, who has more than 30 years of experience in the asset management industry and has been deputy CEO for BNP Paribas Asset Management since 1 January, demonstrates the capacity of our asset management business to organise a seamless succession plan which will ensure consistency with the strategy developed by Frédéric Janbon.
"Sandro has transformed BNP Paribas Asset Management's Global Client Group into a client-centric distribution platform to support the growth strategy of the business. This has proved successful with positive results in 2020, despite the impact of the pandemic.
"As CEO, he will uphold the strategy, philosophy and values of the firm within the framework of our group business development plan and will reinforce the leadership of BNP Paribas Asset Management in sustainable investment."
Pierri began his career in 1989 as a portfolio manager with San Paolo Fondi, moving to BNL Gestioni in 1992, before joining ING Investment Management in Italy in 1994, where he held several commercial roles.
Between 2002 and 2003 he was chief executive of ING Group's Italian retail business. Following the acquisition by UniCredit/Pioneer of ING's Italian business, he joined Pioneer Investments, UniCredit's asset management division, in 2004.
He spent ten years in various commercial and managerial positions, including being appointed CEO in 2012.
First published by our sister title Investment Week